Stocks of Applied Digital Corporation (NASDAQ:APLD) traded higher last session on Wall Street, up 5.35% to $4.92.
APLD stock price is now 41.59% away from the 50-day moving average and 1.26% away from the 200-day moving average. The market capitalization of the company currently stands at $659.62M.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target of $14, ROTH MKM recently initiated with Buy rating for Applied Digital Corporation (NASDAQ: APLD). On December 22, 2022, H.C. Wainwright recently initiated its ‘Buy’ rating on the stock quoting a target price of $4, while ‘DA Davidson’ rates the stock as ‘Buy’
In other news, MOORE VIRGINIA, Director sold 30,000 shares of the company’s stock on Feb 20 ’24. The stock was sold for $142,200 at an average price of $4.74. Upon completion of the transaction, the Director now directly owns 148,630 shares in the company, valued at $0.73 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 29 ’23, Director MOORE VIRGINIA sold 15,000 shares of the business’s stock. A total of $73,050 was realized by selling the stock at an average price of $4.87. This leaves the insider owning 178,630 shares of the company worth $0.88 million. A total of 37.79% of the company’s stock is owned by insiders.
During the past 12 months, Applied Digital Corporation has had a low of $2.36 and a high of $11.62. As of last week, the company has a debt-to-equity ratio of 2.48, a current ratio of 0.30, and a quick ratio of 0.30. The fifty day moving average price for APLD is $3.4867 and a two-hundred day moving average price translates $4.85405 for the stock.
The latest earnings results from Applied Digital Corporation (NASDAQ: APLD) was released for 2024-02-29. The net profit margin was -63.44% and return on equity was -101.82% for APLD. The company reported revenue of $43.35 million for the quarter, compared to $14.09 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 207.65 percent.
